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COMPANY REGISTRATION NUMBER: 11364387
My Haven House Ltd
Filleted Unaudited Financial Statements
31 May 2023
My Haven House Ltd
Financial Statements
Year ended 31 May 2023
Contents
Page
Officers and professional advisers
1
Accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
My Haven House Ltd
Officers and Professional Advisers
Director
Mr K Krawczynski
Registered office
16 Bankside
Corby
England
NN18 8AP
Accountants
A Plus Accountants Limited
Accountants
10 Canberra House
Corbygate Business Park
Corby
Northants
NN17 5JG
My Haven House Ltd
Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of My Haven House Ltd
Year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of My Haven House Ltd for the year ended 31 May 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of My Haven House Ltd in accordance with the terms of our engagement letter dated 16 July 2018. Our work has been undertaken solely to prepare for your approval the financial statements of My Haven House Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than My Haven House Ltd and its director for our work or for this report.
It is your duty to ensure that My Haven House Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of My Haven House Ltd. You consider that My Haven House Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of My Haven House Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A Plus Accountants Limited Accountants
10 Canberra House Corbygate Business Park Corby Northants NN17 5JG
20 February 2024
My Haven House Ltd
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
126,930
126,930
Current assets
Debtors
6
203
1,325
Cash at bank and in hand
2,452
1,187
-------
-------
2,655
2,512
Creditors: amounts falling due within one year
7
65,359
60,968
--------
--------
Net current liabilities
62,704
58,456
---------
---------
Total assets less current liabilities
64,226
68,474
Creditors: amounts falling due after more than one year
8
93,292
92,224
--------
--------
Net liabilities
( 29,066)
( 23,750)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 29,166)
( 23,850)
--------
--------
Shareholders deficit
( 29,066)
( 23,750)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
My Haven House Ltd
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 20 February 2024 , and are signed on behalf of the board by:
Mr K Krawczynski
Director
Company registration number: 11364387
My Haven House Ltd
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Bankside, Corby, NN18 8AP, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the director will continue to financially support the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Investment property
£
Cost
At 1 June 2022 and 31 May 2023
126,930
---------
Depreciation
At 1 June 2022 and 31 May 2023
---------
Carrying amount
At 31 May 2023
126,930
---------
At 31 May 2022
126,930
---------
The director is of the opinion that there has been no material change in the valuation of the property since being purchased and therefore has not arranged for a valuation.
6. Debtors
2023
2022
£
£
Trade debtors
153
1,273
Prepayments and accrued income
50
52
----
-------
203
1,325
----
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
587
Accruals and deferred income
600
667
Director loan accounts
64,247
59,370
Other creditors
( 75)
931
--------
--------
65,359
60,968
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
93,292
92,224
--------
--------
Included within creditors: amounts falling due after more than one year is an amount of £93,292 (2022: £92,224) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
Charter Court Financial Services Limited hold a legal mortgage charge on 1 Longford Street and Nottingham Building Society hold a legal mortgage charge on 40 Carisbrooke Avenue, in relation to loan advances repayable after 5 years.